FundedByMe Malaysia, a crowdfunding operator approved under the regulation of Malaysia, has launched its peer-to-peer lending platform for small to medium enterprises dubbed AlixCo. The new loan provision service has been developed to assist entrepreneurs in Malaysia to access financing for their operational needs. The creation of such P2P platform is expected to tackle the problem of financing gap in the country estimated at about $ 18.7 billion.

Malaysia is known to have become one of the first countries in the Association of South-East Asian Nations to adopt a regulation for the online financing services leading the region in providing legislative basis for the fintech industry.

AlixCo lending service will become a marketplace for investors to get optional ways to invest their money while helping SMEs across the nation to sustain their business growth. Under the rules of the services, the minimum financing amount accounts for RM 50,000 and the maximum amount is subject to conditions and requirements of a certain business.

Angelld Quah, COO of FundedByMe Malaysia, notes that the company’s vision is to lead the P2P ecosystem for SMEs and investors across Malaysia, thus, educating the markets about P2P funding environment. The company has a qualified team for addressing online and offline working issues to make the process of loan raising seamless for users.